中文摘要：

本研究以2011年中国全部纯A股、A＋B股和A＋H股上市公司为样本,考察国际融资动机和监管环境如何影响上市公司的强制性信息披露、自愿性信息披露、真实性信息披露、及时性信息披露以及信息披露整体水平。研究发现,国际融资动机使上市公司披露更多的自愿性信息和真实性信息,而较完善的监管环境使上市公司更真实和及时地披露信息。可见,上市公司可被视为理性的信息披露者,未来治理工作可以尝试因势利导,强化信息披露在市场机制中的作用,同时继续优化公司治理结构和完善监管环境。

英文摘要：

Cross listing has been supposed to influence firms＇ information disclosure. This study investigates how international financing motivation and regulatory environment affect the cross listed companies＇ information disclosure, using the Chinese A shares, A＋B shares and A＋H shares as research sample. It is found that international financing motivation enhances companies＇ disclosure level of voluntary information and true information, while companies listed in sound regulatory environment are likely to disclose information more truly and timely. It should be the interest of policy setters by indicating how to improve the information disclosure level of Chinese listed companies.